A premium is the monthly cost
of keeping your insurance policy in effect. Health insurance premiums are
determined by a variety of factors, including your medical history, your
lifestyle, and your current health status.
A deductible is an amount of medical expenses
you are responsible for paying before your insurance starts covering you. For example, if you have a
Delta Dental insurance plan
with a $50 deductible, you would be responsible for paying the first $50 in medical bills before receiving
A co-payment is a
fixed-dollar amount that you are responsible for paying for a particular medical
service. For example, many plans have $20 co-payments for doctor's visits. This
means it only costs you $20 to see a doctor.
Coinsurance is an amount of
the cost of a medical service that you are responsible for paying. Unlike a
co-payment, which is a fixed-dollar amount, coinsurance is expressed as a
percentage. For example, many insurance plans have 20% coinsurance for hospital
costs meaning you pay 20% of the total cost of a trip to the hospital.
expense is any cost you have to pay yourself when receiving medical care. This
includes your deductible, co-payments, and coinsurance. Most health insurance
policies have an annual maximum out-of-pocket expense. Once you've paid out
enough money to meet that maximum, your insurance company will pay the rest of
your medical costs.
Managed care is a form of
health insurance that stresses preventive medicine and affordability. In a
managed care plan, you typically choose a Primary Care Physician who is
responsible for approving specialist and hospital care. Managed care was
originally introduced as a way to control healthcare costs. It's now the most
common form of health insurance in the United States. HMOs and PPOs are examples
of managed care.
Accounts aren't health insurance plans. Instead, they are a financial tool
designed to help make your healthcare more affordable. The money you deposit in
an HSA is tax-free. You don't pay taxes on qualified withdrawals, either. In
effect, it's like getting extra money from the government to pay for healthcare.
To open an HSA, you first have to purchase a high deductible health plan.
insurance isn't just about paying medical bills. It's about knowing that you'll
always have access to quality care. Health insurance makes seeing the doctor
easy and affordable and that means you're more likely to stay healthy.
The best way to explore your health insurance options is to get the advice of a
professional agent. Our instant quote tool will let you get started comparing
Individual & Family Health Insurance plans in minutes. When you request free
quotes, you'll see your options side-by-side.
If you are currently covered by Medicare, you may want to consider additional Medicare supplemental
insurance (or “Medigaps”) to fill in the gaps in your primary coverage. We can help you find the best
rates for your Medicare supplements
along with other important services including senior life insurance, individual dental and vision insurance and
That depends on
who you are. There is no single best policy for everyone – people have different, unique needs.
A low-cost individual vision insurance
plan offering basic coverage might be great for someone in their 20s with good eyesight, but
might not work for a senior with vision concerns. Take a second to check
Individual & Family Health Insurance online quote tool and choose the policy
that best meets your needs.